{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\myogo\Princeton Dropbox\Motohiro Yogo\Koijen Yogo - International\JPE\Replication\Code\3 Estimation\Consumption0.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}31 Oct 2025, 09:30:36
{txt}
{com}. /* Define local and global variables */
> 
> do global;
{txt}
{com}. /* global.do (STATA)
>         Define global variables in "Estimation".
>         by Ralph Koijen & Motohiro Yogo */
. 
. #delimit ;
{txt}delimiter now ;
{com}. clear all;
{res}{txt}
{com}. global macro = "LgdpP LgdpPpc Gcpi vol drate";
{txt}
{com}. global bilateral = "dist";
{txt}
{com}. global dummies = "Iown I_CR I_OC Iyear_*";
{txt}
{com}. global dummiesA = "Itype_*";
{txt}
{com}. global iv = "IVexdemand";
{txt}
{com}. global ivA = "LSdelta*";
{txt}
{com}. 
{txt}end of do-file

{com}. /* Call the ado file */
> 
> Consumption 0 .;
{txt}(67,317 missing values generated)
(47,210 missing values generated)
(47,210 missing values generated)
(47,210 missing values generated)
(47,210 missing values generated)
(47,210 missing values generated)
(47,210 missing values generated)
(613 real changes made)
(0 real changes made)
(0 real changes made)
(595 real changes made)
(627 real changes made)
(625 real changes made)
(225 real changes made)
(348 real changes made)
(495 real changes made)
(632 real changes made)
(0 real changes made)
(0 real changes made)
(0 real changes made)
(0 real changes made)
(633 real changes made)
(0 real changes made)
(0 real changes made)
(452 real changes made)
(585 real changes made)
(594 real changes made)
(0 real changes made)
(628 real changes made)
(587 real changes made)
(601 real changes made)
(456 real changes made)
(0 real changes made)
(616 real changes made)
(556 real changes made)
(379 real changes made)
(516 real changes made)
(0 real changes made)
(532 real changes made)
(424 real changes made)
(601 real changes made)
(481 real changes made)
(582 real changes made)
{res}
{txt}                      Lmb
{txt}                     b/se
{txt}LgdpP       {res}        0.013{txt}
            {res}        0.008{txt}
{txt}LgdpPpc     {res}       -0.008{txt}
            {res}        0.010{txt}
{txt}Gcpi        {res}       -0.111{txt}
            {res}        0.014{txt}
{txt}vol         {res}        0.002{txt}
            {res}        0.005{txt}
{txt}drate       {res}       -0.033{txt}
            {res}        0.029{txt}
{txt}_cons       {res}       -0.050{txt}
            {res}        0.030{txt}
{txt}N           {res}          442{txt}
{p 0 4 2}
file {bf}
Consumption0.dta{rm}
saved
{p_end}

{com}. log close;
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\myogo\Princeton Dropbox\Motohiro Yogo\Koijen Yogo - International\JPE\Replication\Code\3 Estimation\Consumption0.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res}31 Oct 2025, 09:30:39
{txt}{.-}
{smcl}
{txt}{sf}{ul off}